Back to Firsthomebuyers.net	Contact Jerry Tribuzio Direct: 847-516-5743 if you have questions					10/13/2007
	Email: jtrib@firsthomebuyers.net
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Rent versus Buy Analysis
	FirstHomeBuyer	80-20 Combo Loan	Single Loan No PMI
Type of mortgage	30 Year Fixed	30 Year Fixed	7 Year ARM
Initial Assumption
After-tax rate of return on investments
Marginal tax rate				Housing Information
Estimated annual appreciation of home				Check Home Value
Down payment on home	0	0		Fastest Growing Cities
Closing costs-1st mortgage				Best Places to Live
Points-1st mortgage
Closing costs-2nd mortgage
Points-2nd mortgage
Estimated purchase price of home
Cost of Renting
Annual Rent
Renter's insurance annual premium
Total cost of renting
Cost of Buying
Mortgage Amount
Interest Rate
APR-Annual Percentage Rate
Term of mortgage (years)	30	30	30
Monthly mortgage payment
Home equity loan amount
2nd mortgage rate
2nd mortgage APR
Home equity line payment
Total monthly mortgage payment
Annual mortgage payment
Annual property taxes
Annual homeowner's insurance
Annual Home Association Dues
Private Mortgage Insurance-PMI		0	0
Opportunity cost of buying
Annual Maintenance
Total cost of buying
Less Adjustments:
Principal reduction in mortgage
Tax savings of interest deductions
Tax savings of property tax
Tax savings on PMI		0	0
Total adjustments
Annual after-tax cost of home ownership
Less:
Estimated annual appreciation in value of home
Net annual cost of home ownership
Yearly Savings Owning versus Renting
Additional Calculations
Enter year(s) owning home
Value of home
Equity in home
Net Profit if you sell home
Sales Price
Real estate commission rate
Real estate commission
Seller Closing Costs
Mortgage balance(s)
Net profit if you sell home